The Securities and Exchange Commission (SEC) has warned Nigerian influencers, bloggers and celebrities to stop promoting unregistered investment platforms, or they will face serious punishment under the new Investments and Securities Act (ISA) 2025. This warning came after President Bola Ahmed Tinubu signed the new Act into law, giving the SEC more power to fight against fraudulent investment schemes, especially Ponzi schemes that continue to deceive many Nigerians.
The Director-General of the SEC, Dr. Emomotimi Agama, made this known in a statement released on Sunday. He said the Commission now has the power to fine promoters of illegal investment schemes a minimum of ₦20 million and sentence them to at least 10 years in prison. He stressed that the new law clearly defines what constitutes a Ponzi scheme and gives the SEC the right to go after anyone who is involved — including those who advertise or promote such scams on social media or other platforms.
According to Agama, the SEC is already working closely with the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force and other security agencies to identify, investigate, and prosecute offenders. He pointed out that influencers and bloggers who use their platforms to convince people to put money into fake investment schemes are also part of the problem and will be held accountable.
This clampdown is coming shortly after the collapse of CBEX, a digital investment platform that reportedly scammed Nigerians out of more than ₦1.3 trillion. CBEX had promised mouth-watering returns and claimed to have strong international backing, which turned out to be false. The SEC boss stated that the Commission is now more determined than ever to shut down such illegal operations and punish the people behind them.
He said, “The law also targets influencers and bloggers who promote fraudulent schemes, with clear penalties including imprisonment. We are therefore using this medium to warn such persons to desist from promoting unregistered entities.”
Dr. Agama also announced that the ISA 2025 now brings digital assets under the regulation of the SEC. This means that any business dealing with virtual currencies, digital tokens, or online investments must now register with the Commission and follow its rules. Digital Asset Exchanges and Virtual Asset Service Providers are now officially recognised as part of the financial system, and their activities will be closely monitored to ensure investors are protected.
In addition to enforcement, the SEC is also focusing on public education to help Nigerians understand the dangers of investing in unregulated platforms. Dr. Agama said the Commission has launched a podcast to raise awareness and is also taking capital market education into schools and universities to train the next generation of investors and entrepreneurs.
He advised the public to always check with the SEC before putting money into any investment scheme. “Once it is too good to be true, it certainly is not true,” he warned. He also said the Commission has created special departments to monitor market activities, carry out inspections, and quickly detect any signs of fraudulent activity. “We have a monitoring department. We also do onsite inspections. Once we hear anything, we do something,” he said.
Agama concluded by restating the SEC’s mission to protect investors and grow a stable and inclusive capital market. “The capital market helps you to democratise wealth for everybody,” he said. He believes that the ISA 2025 is a major step forward in protecting Nigerians from financial fraud and in building a more trustworthy investment environment.
